However, the draft offer documents for the IPO were withdrawn in December last year and the reasons for the withdrawal have not been disclosed, an update with Sebi showed on Wednesday.
Hyderabad-based Maury Tech’s proposed IPO draft paper calls for Rs. 440 crores fresh issue of equity shares and by promoters and existing shareholder Rs. 1,060 crore includes an offer-for-sale (OFS) of shares.
Under OFS, promoters Sujay Paturu and Anil Reddy Yerramreddy respectively received Rs. 615 crore and Rs. 316 crore shares will be sold. Further, the existing shareholder Srinivasu Rao Sandaka Rs. 129 crore worth of equity shares to be offloaded.
From fresh issue Rs. 165 crore will be used to repay the debt of its subsidiary MT USA and Rs. 125 crore will be made towards its working capital requirements. Additionally, the remaining funds will be used for inorganic growth through undisclosed acquisitions and general corporate purposes.
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Maury Tech has a presence in the US, Europe, Middle East and Africa (EMEA) and India. The company has delivery centers in Telangana, Karnataka, Tamil Nadu and Maharashtra etc.
According to F&S report the company competes with TCS, Infosys, Wipro, HCL and Tech Mahindra.
According to DRHP, Amanta Healthcare’s proposed public issue was a fresh issue of 1.25 crore equity shares.
The company manufactures medical devices and sterile liquid products – parenteral products, which are used in cases where patients cannot consume drugs by oral route or when drugs are not suitable for oral intake. Incorporated in 1994, Amanta promoted by Bhavesh Patel has 113 active product registrations with international authorities.
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